The share of renewable energy supply is high
The catch-up with advanced countries has slowed down
PISA scores are low
Skills shortages are substantial
Services sectors are important
Thailand’s economy was performing well until the COVID-19 crisis
Inequality between regions is significant
Recent economic developments
Exports of goods by market and commodity
Thailand benefited less from trade diversion than its peers
The sharp drop of international tourists affects Thailand significantly
The COVID-19 outbreak intensity varies in the region
Economic activity hit by lockdown orders has shown a slight rebound
Thailand has experienced three severe shocks since 1960
Private investment has contracted with weakening imports of capital goods
Policy reaction has been prompt when inflation turned negative
Thai Baht appreciated more than other currencies in the region
Fintech companies in Thailand are mainly in corporate finance, lending & credit and payment system
The central government's fiscal deficit has narrowed, but is expected to rise sharply
Disbursements of public capital spending allocations have declined
Thailand's tax revenue collection is still low compared to OECD countries
The value added tax accounts for almost a quarter of total revenue
The overall level of inequality has declined but the tax-and-transfer system still plays a rather limited role in redistributing incomes
Public social protection expenditure has much room to expand
Healthcare expenditure is rising fast
Thailand's old-age dependency ratio is expected to increase rapidly
Public debt is on the rise, but still below the threshold set by the government
Public debt scenarios
Thailand's labour force has been declining
Productivity is weakening in some sectors, including manufacturing
Investment in Thailand is low relative to regional peers
Thailand has made progress in improving its business environment
Thailand’s protection of international property rights is comparable to regional peers
Thailand is lagging in terms of rail infrastructure
Internet use and mobile services could be further improved
SMEs are an important driver of economic activity and employment
Thailand needs to strengthen its anti-corruption framework
Thailand has stepped up anti-money laundering measures
Land productivity of natural rubber has declined
Thailand's food processing industry could thrive more
Informality remains high and is concentrated in agriculture and services
Despite overall progress, Thailand lags behind in political empowerment of women
Renewables are increasing
The supply of industrial robots is on the rise
Robot use in Thailand is concentrated in a few sectors
Jobs with high probability of automation
Thailand is one of the most rapidly ageing countries
International trade keeps rising
Thailand's participation in formal education is around the regional average
Thailand's expenditure on primary education is the highest in the region
PISA scores are lower than the OECD average, with a growing gap in reading
Thailand has a high share of low achievers and a low share of high performers in reading
Higher education enrolment has increased until recently
Wage premiums of university degrees are strong
Educated workforce is becoming older, except for workers with tertiary education
The supply of high-skilled workers in different STEM fields is increasing rapidly
Young Thais workers predominantly hold degrees in business and administration
Several occupations and industries are facing substantial shortages
Many workers are employed in occupation that do not match their education
Relatively few firms train workers in Thailand
Adults face multiple barriers to participating in training
The share of services is increasing in GDP, while manufacturing’s is declining
The services sector is the largest contributor to economic growth
The share of the services sector is still lower in Thailand than in OECD countries
The share of services in GDP has risen
Although less vigorous, trade in services has increased gradually
Services play an important role in global value chains
Thailand’s relatively high wages erode the competitiveness of its manufacturing sector
The recovery of services exports was strong after the last crisis
Thailand's exports are more diverse
Thai services markets are more restricted than those in OECD countries
Restricted markets are likely to have a weak competitive edge
Thailand is competing for FDI with its regional peers
Thailand's FDI restrictions are becoming relatively more stringent
Impacts on domestic production by sector
Impacts on exports and imports by sector
Thailand's trade facilitation performance has improved
Most of imported high-end services are embodied in intermediate goods
Thailand's high-end business services participate less in manufacturing GVCs
Some emerging countries have increased direct exports of high-end services
Thailand is one of the most popular tourist destinations
Thailand's tourism has an advantage in service infrastructure and natural resources
Foreign students become more important in higher education in many countries
Figure Annex 1.B.1. Revealed comparative advantages of the Thai services and manufacturing sectors
Figure Annex 1.D.1. Domestic GVC productivity by manufacturing sub-sectors